USD.AI, a decentralized credit protocol, enables AI startups to secure loans by collateralizing GPU hardware, introducing a novel “Infra-Fi” model that bridges DePIN, AI, RWA, and stablecoins. Key highlights include:
- CALIBER Standard: GPU ownership is represented as on-chain NFTs, integrating insurance, valuation, and redemption mechanisms, enabling fully on-chain collateralization and liquidation.
- Dual-Token Model:
- USDai: A stablecoin for loan settlement.
- sUSDai: A yield-bearing stablecoin backed by GPU-generated revenue (e.g., AI training rentals) and US Treasury investments, targeting 15–25% APR.
- Revenue Streams: Income from GPU leasing and Treasury bonds is distributed to sUSDAI holders, creating a sustainable ecosystem.
- Trends & Implications:
- Machine Collateralization: GPUs evolve from hardware to financialized assets, expanding DePIN and RWA scope.
- DePIN + RWA Synergy: Off-chain productive assets (e.g., GPUs) enter DeFi as collateral, merging real-world profitability with on-chain liquidity.
- AI-Crypto Integration: Lowers financing barriers for AI firms while offering stablecoin holders “AI corporate bond”-like returns.
- New Flywheel: Shifts from resource-sharing to assetization, unlocking liquidity via hardware financialization and accelerating capital circulation.
Potential challenges include RWA transparency and sustaining target yields, but the model could pioneer a machine-collateralized financial market, broadening DePIN’s asset class to include computing, storage, and bandwidth.
